Cerity Partners LLC Acquires 155,755 Shares of AMREP Co. (NYSE:AXR) – Market Update
Cerity Partners LLC recently increased its stake in AMREP Co. (NYSE:AXR) by a whopping 137.2% in the third quarter, as per their latest disclosure to the Securities and Exchange Commission. This move added 155,755 shares to their portfolio, bringing their total to 269,287 shares of the company’s stock. This amounts to about 5.09% ownership of AMREP, valued at $7,995,000.
In similar news, Empowered Funds LLC also upped their investment in AMREP by 5.3% during the same quarter, now owning 42,796 shares, valued at $1,271,000. Overall, institutional investors and hedge funds hold about 59.85% of the company’s stock.
Trading for AMREP (NYSE:AXR) saw a slight increase of 1.4% recently, with shares trading at $35.40 on Thursday. This price falls within a trading range between $15.88 and $39.02 over the past year. The company’s market capitalization stands at $187.27 million, with a price-to-earnings ratio of 20.11 and a beta of 0.89.
Regarding recent financials, AMREP reported earnings of $0.76 per share for the last quarter. The company showed a net margin of 15.64% and a return on equity of 8.05%, with a total revenue of $19.09 million.
On a positive note, StockNews.com raised AMREP’s rating from “hold” to “buy” back in September. In insider trading news, major shareholder James H. Dahl purchased 1,800 shares of AMREP stock, reflecting a 0.42% increase in his ownership.
AMREP Corporation is primarily involved in real estate, selling developed and undeveloped lots to homebuilders and others. They also own mineral interests in New Mexico and oil and gas land in Colorado.
If you’re considering investing in AMREP, it’s essential to stay informed about the company’s latest news and financial performance. Remember to do your research and consult with financial experts before making any investment decisions.
